It would have been much easier and cost effective to just take the first management position and work into retirement at the hospital or bank or retail corp or manufacturer or any of the other places I worked at in the past in IT.
Ha... ha.... ha, ha, ha, ha, ha.... Oh excuse me. That was droll. As if any of the folks who moved up had any more job security than you. No, you don't get that sort of security until you hit the point where you can pre-negotiate a golden ticket on the way out. And that sure as hell isn't first-level management.
I did as you proposed. I was an individual contributor who moved up into management and, honestly, only after I'd taken fifteen years moving up the IC ranks to the highest levels my company had and did some serious soul searching about my ability to do the job, having seen both good and bad managers in my career. The result? After fifteen years I still often got paid less than some of the higher-level technical folks I managed and the final layoff came regardless.
In any case, promulgating the notion that being a manager somehow insulates you from idiots higher up the chain really isn't fair. In most orgs, first level managers are seen as about on par with managers of a local Pizza Hut and have similar job security. One who likes working with the technical folk and so stays at this level finds this out eventually. It's up or out even there. I wanted to stay out of the always political shark fight higher up, so I learned enough about it to play at my level, I enjoyed working in my various jobs with a lot of great technical folks, but I got laid off the same as the rest of my teams. In fact, in my last FTE position, I and another "senior" manager were shown the door while our teams stayed on.
I'm now a contractor/consultant after my final layoff and, though I make a bit less than I did when I was an FTE and have even less job security, I choose how much I work and I work on things that are interesting to me with people I generally like. On the whole, it's a better life.